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Company No: 05832979 (England and Wales)

UTILITEAM (GB) LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

UTILITEAM (GB) LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

UTILITEAM (GB) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
UTILITEAM (GB) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Current assets
Debtors
- due within one year 4 8,544 7,666,129
- due after more than one year 4 40,000 30,000
Cash at bank and in hand 1,473,638 840,062
1,522,182 8,536,191
Creditors: amounts falling due within one year 5 ( 503,671) ( 477,787)
Net current assets 1,018,511 8,058,404
Total assets less current liabilities 1,018,511 8,058,404
Creditors: amounts falling due after more than one year 6 ( 100) 0
Net assets 1,018,411 8,058,404
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 1,018,311 8,058,304
Total shareholder's funds 1,018,411 8,058,404

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Utiliteam (GB) Limited (registered number: 05832979) were approved and authorised for issue by the Director on 16 February 2024. They were signed on its behalf by:

M D Peters
Director
UTILITEAM (GB) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
UTILITEAM (GB) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Utiliteam (GB) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 36 Moorings Reach, Brixham, Devon, TQ5 9TB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 October 2022 100
At 30 September 2023 100
Provisions for impairment
At 01 October 2022 100
At 30 September 2023 100
Carrying value at 30 September 2023 0
Carrying value at 30 September 2022 0

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 0 140,587
Amounts owed by Group undertakings 1,353 7,521,568
Other debtors 7,191 3,974
8,544 7,666,129
Debtors: amounts falling due after more than one year
Deferred tax asset 40,000 30,000

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 61,625 41
Taxation and social security 242,740 350,156
Other creditors 199,306 127,590
503,671 477,787

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 100 0

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 4,608 3,515